Accounting occupations perform a variety of duties to track, analyze and maintain financial information for an organization. In large businesses, accounting functions often are broken down into several jobs to properly maintain the large amount of financial information being processed. Small businesses often have fewer accounting personnel to perform all of the accounting responsibilities. These types of occupations often require a bachelor&amp;#039;s degree in accounting or finance.

Bookkeeping

Accounting occupations often handle bookkeeping responsibilities such maintaining the organization&amp;#039;s general ledger, which involves posting all daily financial transactions. This includes calculating expenses, profit and loss. Bookkeeping also includes maintaining the organization&amp;#039;s bank records, as well as making necessary deposits. Other responsibilities may include maintaining, preparing and distributing payroll to employees.

Accounts Payable/Receivable

Along with bookkeeping, these professionals perform accounts payable and receivable responsibilities. This includes paying the organization&amp;#039;s expenditures and ensuring that all of the organization&amp;#039;s outgoing invoices to clients are paid in a timely manner. This can involve contacting vendors, clients, banks and other service providers, as well as those who purchase services or products to collect payment and pay for services and products.

Tax Preparation

In most cases, accounting professionals in small businesses prepare local, state and federal income taxes, or gather the appropriate information and forward it to a tax professional. This includes ensuring that all appropriate paperwork and receipts are complete and accurate to comply with Internal Revenue Service&amp;#039;s guidelines, and submitting the information as required.

Reporting/Analysis

These professionals prepare financial reports for executives of an organization. The reports often are created to meet the needs of the organization, and then generated on a daily, weekly or monthly basis. An accounting professional often analyzes the reports and suggests ways to improve costs, as well as help make decisions regarding financial resources and expenditures to allow the organization to grow.

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